Sarawak is now the Third Richest State in Malaysia

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Once considered to be the poorest state in Malaysia, Sarawak is now the third richest state in the country.

According to Chief Minister of the state, Tan Sri Abdul Taib Mahmud, Sarawak expects a 5% increase in its gross domestic product (GDP) this year. This is due to the rapid growth of its economic corridor.

Apparently, the state’s GDP had improved quite a bit since the set-up of the Sarawak Corridor for Renewable Energy five years ago. This has attracted RM24 billion worth of investments. There was also a trade surplus of RM65.3 billion last year. This contributes to 4.5% of the GDP.

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